Waiver?

The first time I did an A&D they had nothing. The second one asked for a check that they held until after the event which they returned to me. Since then no one asked asked for anything and I've never had a to sign anything but after 5 years of racing I know most (but not all) of the people I've A&D'd for. I once had my own team and owned the car myself and had a friend total it during it's second race. It hurts like hell when that happens and I had nothing in place to cover such an incident.  I wish I did.

I have  a waiver, but I did it as part of forming an LLC to hold the assets of the team.  Its a smart thing to do because as one of my teammates said "everyone's friends until someone gets killed, my wife or that guys wife may turn into an absolute bitch".  However in discussing this with a lawyer what you have in your favor is racing is generally accepted to be a "deadly" way to spend your spare time.  So should the worst happen its actually very hard to bring a case against you as the car owner because they would need a mountain of evidence saying you did everything wrong in prepping the car, since just by racing you accept a ton of risk in knowing the car was prepped right and that your actions can end in your demise.

Some teams do a deposit.  In my case all my drivers are friends of mine, however if I ever allowed someone to run who was not, that sounds like a good idea.

We had to sign a waiver when we went Baja racing. There was not a kidnapping clause IIRC.